[Code of Federal Regulations]
[Title 48, Volume 1]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 48CFR16.301-1]

[Page 300]
 
            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM
 
                CHAPTER 1--FEDERAL ACQUISITION REGULATION
 
PART 16--TYPES OF CONTRACTS--Table of Contents
 
               Subpart 16.3--Cost-Reimbursement Contracts
 
Sec. 16.301-1  Description.

    Cost-reimbursement types of contracts provide for payment of 
allowable incurred costs, to the extent prescribed in the contract. 
These contracts establish an estimate of total cost for the purpose of 
obligating funds and establishing a ceiling that the contractor may not 
exceed (except at its own risk) without the approval of the contracting 
officer.